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12:30 - 14:00 20 May 2015

Allocating Effort and Talent in Professional Labor Markets


IFS basement | Institute for Fiscal Studies (link Map)
7 Ridgmount Street | London | WC1E 7AE | United Kingdom

Open to: Academic | Student
Ticketing: Open

Speaker information

Derek Neal, Chicago

Two personnel practices often characterize professional labor markets. Many young professionals work long hours and expect that, at some point relatively early in their careers, their initial employers will either promote them to a partner position or ask them to leave. The existing economics literature addresses these two phenomena separately, but we build a model that demonstrates how both practices serve a similar purpose. In organizations that place a high premium on identifying talented leaders, both long hours for new associates and up-or-out promotion rules may be optimal ways to facilitate the search for talent.


Institute for Fiscal Studies
020 7291 4800